Requirements for chair of trustees
This section has no associated Explanatory Memorandum
16. A chair of the trustees who signs a statement of strategy prepared for a trust scheme(1) on behalf of the trustees under section 221B(6) of the Act (statement of strategy: trust schemes) must be—
(a)an individual who is a trustee of the scheme,
(b)a professional trustee body which is a trustee of the scheme, or
(c)where a company which is not a professional trustee body is a trustee of the scheme, an individual who is a director of that company and through whom the company exercises its functions as trustee of the scheme, or a professional trustee body which is a director of that company.
(1)
By virtue of section 233 of the Act, “trust scheme” is defined by section 124(1) of the Pensions Act 1995.